AGL 5.95 Decreased By ▼ -0.13 (-2.14%)
ANL 9.26 Decreased By ▼ -0.14 (-1.49%)
AVN 80.82 Decreased By ▼ -0.64 (-0.79%)
BOP 5.20 Decreased By ▼ -0.07 (-1.33%)
CNERGY 4.86 Decreased By ▼ -0.04 (-0.82%)
EFERT 81.82 Increased By ▲ 0.27 (0.33%)
EPCL 53.94 Decreased By ▼ -0.06 (-0.11%)
FCCL 14.29 Decreased By ▼ -0.11 (-0.76%)
FFL 5.93 Decreased By ▼ -0.12 (-1.98%)
FLYNG 7.44 Decreased By ▼ -0.12 (-1.59%)
FNEL 4.95 Decreased By ▼ -0.05 (-1%)
GGGL 9.18 Decreased By ▼ -0.14 (-1.5%)
GGL 16.51 Decreased By ▼ -0.19 (-1.14%)
HUMNL 6.14 Increased By ▲ 0.45 (7.91%)
KEL 2.77 Decreased By ▼ -0.02 (-0.72%)
LOTCHEM 30.81 Increased By ▲ 0.26 (0.85%)
MLCF 27.45 Decreased By ▼ -0.34 (-1.22%)
OGDC 74.27 Increased By ▲ 0.27 (0.36%)
PAEL 15.98 Decreased By ▼ -0.21 (-1.3%)
PIBTL 5.21 Decreased By ▼ -0.02 (-0.38%)
PRL 17.01 Decreased By ▼ -0.28 (-1.62%)
SILK 1.10 Increased By ▲ 0.01 (0.92%)
TELE 10.00 Decreased By ▼ -0.04 (-0.4%)
TPL 7.65 Decreased By ▼ -0.05 (-0.65%)
TPLP 19.41 Decreased By ▼ -0.36 (-1.82%)
TREET 22.72 Decreased By ▼ -0.47 (-2.03%)
TRG 146.80 Decreased By ▼ -0.55 (-0.37%)
UNITY 17.09 Decreased By ▼ -0.10 (-0.58%)
WAVES 10.33 Decreased By ▼ -0.05 (-0.48%)
WTL 1.42 Decreased By ▼ -0.04 (-2.74%)
BR100 4,330 Increased By 3.4 (0.08%)
BR30 16,296 Increased By 46.9 (0.29%)
KSE100 42,904 Increased By 23.3 (0.05%)
KSE30 15,805 Decreased By -4.6 (-0.03%)
Business & Finance

China's crude steel output to peak around 2025

  • By 2030, carbon emissions in the steel sector is forecast to fall by 30% from its peak, and the industry aims to cut emissions by 420 million tonnes.
  • China's top two steelmakers China Baowu Steel Group and HBIS Group had set individual goals to reach carbon emission peaks in 2023 and 2022 respectively.
Published March 20, 2021
Follow us

BEIJING/SHANGHAI: China's crude steel output will peak at around 1.16 billion tonnes in 2025, when carbon emissions in the sector will also reach a peak, a government consultancy said on Saturday.

The steel sector accounts for 15% of China's total greenhouse gas emissions, making it a key focus after President Xi Jinping pledged last year to pass the peak of China's carbon emissions in the next ten years.

"The output figure is just an estimation, but it's a trend," Li Xinchuang, chairman of the China Metallurgical Industry Planning and Research Institute told an industry conference in Beijing.

By 2030, carbon emissions in the steel sector is forecast to fall by 30% from its peak, and the industry aims to cut emissions by 420 million tonnes.

"The target is very challenging," Li said, adding that state-owned mills should take the lead.

China's top two steelmakers China Baowu Steel Group and HBIS Group had set individual goals to reach carbon emission peaks in 2023 and 2022 respectively.

The industry should change its 'northern steel shipping to southern market' situation and largely cut long-processing steel capacity in the Beijing-Tianjin-Hebei area, according to Li.

He also suggested improving raw material structure and developing low-carbon technology, "hydrogen metallurgy and reducing costs are key points".

China churned out 1.065 billion tonnes of crude steel in 2020, accounting for 57% of the world's total output.

Comments

Comments are closed.

China's crude steel output to peak around 2025

'Blatant lies': ISPR rejects claims about COAS Bajwa and his family's assets

Imran’s unresolved difficulty leaves him absolutely frustrated

Govt plans to deregulate POL products’ market by 2027

Malaysia PM Anwar eyes targeted subsidies for low-income groups

England cricketers land in Pakistan for first Test series in 17 years

Qatar's migrant workers enjoy World Cup on the cheap

Energy conservation: stern measures on the cards

FBR widens probe into tax record leak of COAS, family

Tax reforms recommendations to FBR: Supertax has successful large businesses: PBC

Rice import: PM thanks Azeri President for 5-year tax holiday